Refund of amount wrongly transferred to an entry provider party whose bank account was attached by Income Tax Department declined- SLP dismissed by Supreme Court ABCAUS Case Law CitationABCAUS 3655 (2023) (02) SC As alleged by the petitioner, in the course of its business it sought to invest …

Mistake by CA in Tax Audit Report if demonstrated with relevant material enough, Insistence of correction in audit report is not justified ABCAUS Case Law CitationABCAUS 3654 (2023) (02) ITAT Important Case Laws covered:Checkmate Services Pvt. Limited vs. CIT In the instant case, the appellant assessee was in …

Manner and contents of assessment order framed not determinative whether or not reopening is a case of change of opinion – Supreme Court ABCAUS Case Law CitationABCAUS 3653 (2023) (02) SC Important Case Laws covered:Commissioner of Income Tax v. Kelvinator India Limited reported in 320 ITR 561 SCCommissioner …

  Frequently Asked Questions (FAQs) on Income Tax e-Verification Scheme 2021.   The FAQs on the e-Verification Scheme, 2021 (hereafter ‘FAQs’) aim to provide general guidance in understanding the procedures and processes of the e-Verification Scheme, 2021 issued vide CBDT Notification no. 137/2021 dated 13.12.2021.   According to …

There is no legal authority by or under which the revenue-authorities can make a lump-sum disallowance. Lump sun disallowance made without rejecting books of account deleted. ABCAUS Case Law CitationABCAUS 3652 (2023) (02) ITAT Important Case Laws relied upon:ACIT vs. Genda Lal Hazarilal & Company 134 Taxmann 384 …

Capital Gain Exemption u/s 54 and 54F for investment in residential house limited to Rs. 10 crores Section 54 and section 54F of the Income-tax, 1961 allows deduction on the Capital gains arising from the transfer of long-term capital asset if an assessee, within a period of one …